Correlation Between Leidos Holdings and Deutsche Bank
Can any of the company-specific risk be diversified away by investing in both Leidos Holdings and Deutsche Bank at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Leidos Holdings and Deutsche Bank into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Leidos Holdings and Deutsche Bank Aktiengesellschaft, you can compare the effects of market volatilities on Leidos Holdings and Deutsche Bank and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Leidos Holdings with a short position of Deutsche Bank. Check out your portfolio center. Please also check ongoing floating volatility patterns of Leidos Holdings and Deutsche Bank.
Diversification Opportunities for Leidos Holdings and Deutsche Bank
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Leidos and Deutsche is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Leidos Holdings and Deutsche Bank Aktiengesellscha in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Deutsche Bank Aktien and Leidos Holdings is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Leidos Holdings are associated (or correlated) with Deutsche Bank. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Deutsche Bank Aktien has no effect on the direction of Leidos Holdings i.e., Leidos Holdings and Deutsche Bank go up and down completely randomly.
Pair Corralation between Leidos Holdings and Deutsche Bank
If you would invest 9,880 in Deutsche Bank Aktiengesellschaft on September 4, 2024 and sell it today you would earn a total of 480.00 from holding Deutsche Bank Aktiengesellschaft or generate 4.86% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Leidos Holdings vs. Deutsche Bank Aktiengesellscha
Performance |
| Timeline |
| Leidos Holdings |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
OK
| Deutsche Bank Aktien |
Leidos Holdings and Deutsche Bank Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Leidos Holdings and Deutsche Bank
The main advantage of trading using opposite Leidos Holdings and Deutsche Bank positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Leidos Holdings position performs unexpectedly, Deutsche Bank can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Deutsche Bank will offset losses from the drop in Deutsche Bank's long position.| Leidos Holdings vs. Beyond Meat | Leidos Holdings vs. Take Two Interactive Software | Leidos Holdings vs. Delta Air Lines | Leidos Holdings vs. Tres Tentos Agroindustrial |
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Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Transaction History module to view history of all your transactions and understand their impact on performance.
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